As per the MoU, the parties will prepare a joint action plan to establish and incorporate the new company, with its headquarters in Garadag, Baku.
The new jointly-owned firm will be engaged in providing process, engineering, procurement, construction supervision and project management services associated with the development of the new oil, gas processing and petrochemical complex.
The new entity will provide the same services for upstream, midstream and downstream oil and gas projects developed by SOCAR both in the Republic of Azerbaijan and in other countries.
SOCAR is engaged in the fields of oil and gas exploration, production, transportation and marketing.
